The consortium formed by Brazil’s government managed oil and corporation Petrobras (63%, operator) and Spain’s Repsol (37%) has delivered a Declaration of Commercial Viability for a light oil and gas discovery made in reservoirs located above the salt layer, in block BM-S-7, in the Santos Basin.
Over half a million Brazilians have fallen back to poverty from their lower middle class status according to the latest paper from the Social Politics Department belonging to the Getulio Vargas Foundation research centre in Rio do Janeiro, FGV.
Brazil’s economy could shrink for the first time in 17 years in 2009 as the global recession prompts companies to cut output and staffing according to a Central Bank survey of 100 economists and released Monday.
Brazil is prepared to support the International Monetary Fund, IMF, with ten billion US dollars, --5% of its international reserves--, with the purpose of boosting its position in the multilateral financial organizations, --votes and veto power--, in the framework of what was decided last week at the G20 summit in London.
President Lula da Silva said he wants to be the first Brazilian leader whose administration will lend money to the International Monetary Fund. His comments were done following the G20 summit when it was agreed to supply the IMF with additional funding to the tune of 750 billion US dollars.
United States President Barack Obama, wildly popular the world over, said he isn't the globe's most admired politician: the title belongs to Brazil Lula da Silva
Brazilian President Lula da Silva said Friday that he supports alternatives to the dollar as the world's premier currency who anticipated the issue will be addressed when he visits China next month. Senior Chinese and Russian officials have talked in recent weeks about a new reserve currency to replace the dollar.
Auto industry sales in Brazil soared in March as consumers flocked to dealers to benefit from government tax breaks, according to data from the national dealers’ association Fenabrave.
How much access western energy firms win to Brazil’s vast offshore oil fields hinges on complex political currents in the country – and how well the companies navigate these, argues Juliet Hepker.
Brazilian police have discovered inmates using carrier pigeons to smuggle cell phones onto a prison farm in the south eastern state of Sao Paulo.